OPERATIONS MANAGEMENT

Operations management, or production management, deals with the production of goods and services. Every day we come in contact with an abundant array of goods and services, all of which are produced under the supervision of operations managers. Operations is the engine that creates wealth for the firm and underpins the global economy. Hence, operations managers have important responsibilities in both service industries and manufacturing companies. Wealth creation occurs when the value of outputs in goods and services exceeds the cost of inputs used. Wealth can only be created by manufacturing and service operations that add more value than the costs of inputs they use. Raising productivity of operations, the ratio of output to input, is therefore the primary basis for creating wealth. Operations should lead the way in enhancing ability to create wealth, improve productivity, and raise the standard of living for all people. Hence, the task of the operations managers in particular and the top management of one company in general is one of the wealth creators.

One of the more fundamental decisions in this process involves firm choices regarding production techniques. These stages include : operations strategy, product design, process design, choice of technology, quality management, supply chain management, forecasting, facilities and aggregate planning, scheduling operations, and inventory control and management. Among the most important decisions made by operations managers are those involving the design and improvement of the process for producing goods and services. These decisions include choice of process and technology, analysis of flows through operations, and the associated job design in operations.

Supply Chain Management (SCM)

Supply chain management is the planning, design, and control of the flow of information and materials along the supply chain in order to meet customer requirements in an efficient manner, now and in the future. To master this, companies should form a partnership of retailers, wholesalers, and manufacturers to implement an efficient consumer response. The basic elements of this program are aimed at managing both demand and the supply chain. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer. The general idea about supply chains is that they involve raw materials brought into a plant, sent through a manufacturing line and then shipped to a customer. Depending on the type of industry, Operations jobs are divided into : Manufacturing Eg. Automobile companies like Toyota, Boeing, etc Services Eg. Telecom companies like Vodafone, Airtel, etc

Various leading FMCG companies like P&G, Cadburys as well as tech giants Amazon, e-bay and now Flipkart offer, a variety of interesting Operations profiles. Also, Coca-cola, Dabur, Mahindra among others come up with Operations roles for MBA graduates in India.

INSIDE OPERATIONS JOB ROLES & SCOPE

Operations management professionals are suitable for many different sectors. They fit in to the manufacturing sector, construction, retail, aviation, logistics, infrastructure, automotive, oil and gas, FMCG, pharma and railways to name a few. You can expect an improved job profile, such as Director of Organizational Development, Regional Operations Manager, Organizational Effectiveness Manager, Director of Operations, Director of Organizational Management and more. A candidate with a MBA in Operation Management would be able to look after a factory or other operations of the factory in a better manner as compared to others due to their competency and knowledge regarding handling the operations of an organization. Depending on the type of organization, one might be responsible for a few activities / regions in the initial stages and consequently growing up to handling broader areas. This career involves handling a few plants / vendors initially, followed by the responsibility for an entire factory and eventually undertake a more strategic view like global sourcing / alternate materials / imports etc. Operations managers pursue careers in service organizations involved in activities such as banking, transportation, insurance, and government, as well as manufacturing firms involved in producing industrial and consumer products. Typical careers in operations management involve activities such as forecasting, supervision, purchasing, inventory planning and control, operations scheduling and control, process methods and planning, quality management, warehouse management, and production planning in diverse industries such as banking, manufacturing, and retailing. Career opportunities in operations management can also involve work in management consulting firms or the development of computer systems for planning and scheduling. The career options in the field of Operations Management are: COO Quality Control Material Management Productivity Improvement Inventory Control Production Planning Supply Chain Management Logistics

General Operations Managers Operations Management Engineers Plant Manager Process re-engineering Managers Manufacturing consulting Managers Manufacturing optimization Managers

DIFFERENT TYPES OF OPERATIONS MANAGERS IN INDIAN COMPANIES:

Material Manager:

The role of a Materials Manager is to supervise and store the products through the production process. The Materials Manager ships these between departments, warehouses and finally to the customer. In short, a Material Manager would have to make sure that the right thing is bought for the right price at the right time. A traffic manager, logistics manager, materials manager and warehouse manager are some types of Material Managers. Purchase Manager:

Procuring the raw materials or services like that of a lawyer or insurance company is done by this Manager. The quantity, price, quality and time of delivery are coordinated by the Purchase Manager. The other variations that are part of this job are: purchasing agents, buyer and expediter. Industrial Production Manager:

As the name suggests, this Manager is common among manufacturing industries. An Industrial Production Manager coordinates all the departments of production in manufacturing businesses. Production scheduling, quality control, staffing, inventory control, equipment maintenance and control and other such roles are a part of the Industrial Production Managers responsibilities. A line supervisor, production planner and manufacturing supervisor are different types of Industrial Production Managers. Quality Assurance Manager:

A Quality Assurance Manager would work on preventing deficiencies in the production of goods. This is done by preventing any defects, detecting any defects if any and correcting those defects. The standards of the finished product laid out by the company are met. Sampling and inspecting the finished product is part of the job profile of a Quality Assurance Manager. Other offshoots of this job are that of a Quality assurance inspector and quality control technician.

Logistics Manager:

The Logistics Manager is responsible for managing the supply chain of the product or service. The main aim of a Logistics Manager is to increase the efficiency of improve the efficiency of receiving and shipping the goods.

TOP ROLES IN OPERATIONS MANAGEMENT:

1. IT Operations Manager: Information Technology is one of the fastest growing industries and it is projected to continue growing rapidly in the future. As an IT Operations Manager, you would be in charge of overseeing teams of programmers, software engineers and other professionals dealing with data computing. 2. Financial Operations Manager: This OM position is responsible for a companys entire finances. They will analyze reports in order to ensure that the company is working within budget. Financial forecasting is also an important aspect of the job. 3. Operations Manager Research Analyst: Research Analyst Operations Managers decide how to allocate a companys resources in order to ensure profits. Resources may include time, people, space, money and raw materials. They also may compare research projects to see if they are performing well. 4. System Center Operations Manager: This OM career is involved with making sure that a companys computer network is running. He or she will lead teams of experts in monitoring networks, performing security checks and performing upgrades. This Operations Management field is not only well-paid but also growing quickly. 5. Quality Assurance Operations Manager: They work on making sure that products are free from defects and that production goals are met in regards to quality. Quality Assurance OMs may lead tests and inspections of products.

6. Industrial Production Operations Manager: These Operations Managers coordinate the production departments in manufacturing companies. They are in charge of employee scheduling, hiring and terminations, quality control, maintenance and coordinating the entire units activity. 7. Marketing Operations Manager: The Marketing OM is in charge of all aspect related to a product or services marketing. He or she will analyze demand and monitor consumer trends in order to find the most effective marketing strategy. Also, he or she will forecast revenues and establish prices. 8. Purchasing Operations Manager: A Purchasing Operations Manager is in charge of acquiring all goods and services that are needed for a companys operation. They not only buy these goods but also are in charge of monitoring the quantity and quality of the goods/services. The Purchasing Operations Manager will also forecast changes in the price of goods or services in the future. This isnt one of the highest paying careers in Operations Management but it has a good job outlook as all different sized companies require this position to be filled. 9. Supply Chain Manager : Supply chain management is to operations management what oxygen is to human body. Organizational operations cannot run without a solid supply-chain-management practice. Supply chain manager ensures that an organization receives an on-time delivery of raw materials as well as goods and services that are essential to running a business. The entire activity is about a chain of processes that play a critical part in feeding an organization hunger for materials and goods. A supply chain manager must ensure that every part of the chain plays its part. It is ongoing process, and unlike project management, you never done unless product or service is eliminated.